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AGREEMENT <br />This agreement (the "Agreement") is entered into between the City of San Marcos, Texas <br />(the "City"), a Texas municipal corporation, and Texas State University-San Marcos ("Texas <br />State"). The City and Texas State are sometimes also collectively referred to as the "Parties". <br />PART 1. RECITALS <br />Section 1.01. The City has established a program under Chapter 380 of the Texas Local <br />Government Code authorizing financial incentives to certain businesses, entities, employers, <br />employees and individuals for the purpose of encouraging persons who work or are employed <br />within the boundaries of the City to also maintain their primary residence in the City (the <br />"Program"). <br />Section 1.02. Texas State is a publicly funded university with the fifth largest university <br />student enrollment in Texas. Texas State is a major employer in the City and its presence in the <br />City significantly contributes to the City's growth and economic prosperity. <br />Section 1.03. Although Texas State's presence contributes greatly to the economic <br />prosperity of the City, many of its faculty members reside outside of the City. <br />Section 1.04. The City and Texas State have a mutual interest in encouraging more of <br />Texas State's faculty members to maintain their primary residence in the City. The presence of <br />such faculty members as residents of the City will promote local economic development and <br />stimulate business and commercial activity in the City for the following reasons: <br />a) faculty members are generally among the best paid Texas State employees <br />having expendable income to spend at local businesses and attractions; <br />b) faculty members and their families residing in the City will stimulate <br />residential development and enhance the collection of ad valorem taxes associated